Hi there, I’ll be moving to Tennessee here pretty soon and was interested in joining a prop firm. I am just not sure how to get started. I keep seeing lots of these remote firms require you to put up your own money, but that to me seems scammy in some ways. Is there any legitimate prop firms running in Knoxville, TN or a surrounding area? Are there any legitimate prop firms that have remote trading as an option? Every time I run a search I just get “Maverick Trading” and have heard virtually nothing authentic about it. Any help is greatly appreciated, and I hope you all have a wonderful day!
The only way I have ever heard of someone getting started at a prop firm is by somehow managing to get hired by one of the big banks, such as Goldman Sachs or Citibank. But anyone I know of who has done that had some type of substantial edge that enabled them to rise above all the other countless applicants. As for whether there are any legitimate prop firms that have remote trading as an option... if by legitimate you mean that they are not going to ask you for YOUR money before they give you the privilege of trading their money... no, I seriously doubt any exist.
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Not true for any futures prop firm registered with the CME. Only firm principal(s) capital can be at risk, and the trader must be paid on a W-2 and listed as an employee. Dest is correct about futures prop firms - only a handful left. Mostly in Chicago with a smattering in NYC, London, Singapore.
There are most certainly very legit remote prop firms left. Not many firms have physical offices outside of NY or Chicago.
Does he sound like he's going to be hired at Quad Capital? So get his 7 and go to Bright. So what's your advice for shops in Knoxville?